Ouster’s (OUST) “Buy” Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities reiterated their buy rating on shares of Ouster (NASDAQ:OUST) in a research note issued to investors on Wednesday morning,Benzinga reports. Rosenblatt Securities currently has a $53.00 price objective on the stock.

Several other brokerages have also recently issued reports on OUST. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ouster in a research note on Wednesday, August 12th. Cantor Fitzgerald raised shares of Ouster from a “neutral” rating to an “overweight” rating and set a $45.00 target price on the stock in a research note on Wednesday. Citigroup reissued an “outperform” rating on shares of Ouster in a research report on Tuesday, July 21st. Northland Securities set a $60.00 price objective on Ouster and gave the company an “outperform” rating in a research report on Tuesday, July 21st. Finally, Oppenheimer reaffirmed an “outperform” rating on shares of Ouster in a research note on Wednesday. Six research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Ouster has an average rating of “Moderate Buy” and an average target price of $58.00.

Ouster Stock Performance

NASDAQ OUST opened at $34.79 on Wednesday. The business’s fifty day moving average is $35.36 and its two-hundred day moving average is $32.54. The stock has a market capitalization of $2.51 billion, a P/E ratio of -50.42 and a beta of 3.47. Ouster has a 1 year low of $16.40 and a 1 year high of $63.79.

Ouster (NASDAQ:OUST) last issued its earnings results on Tuesday, November 3rd. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.12). The firm had revenue of $59.33 million during the quarter, compared to analyst estimates of $56.30 million. Ouster had a negative net margin of 26.02% and a negative return on equity of 17.49%. On average, research analysts forecast that Ouster will post -0.97 earnings per share for the current year.

Insiders Place Their Bets

In other news, General Counsel Megan Chung sold 11,484 shares of the company’s stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $33.96, for a total value of $389,996.64. Following the completion of the sale, the general counsel directly owned 189,291 shares of the company’s stock, valued at approximately $6,428,322.36. This represents a 5.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Mark Frichtl sold 18,778 shares of the stock in a transaction on Monday, September 14th. The stock was sold at an average price of $33.96, for a total value of $637,700.88. Following the completion of the transaction, the chief technology officer owned 318,987 shares of the company’s stock, valued at $10,832,798.52. The trade was a 5.56% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 138,037 shares of company stock valued at $5,142,537. 5.72% of the stock is owned by insiders.

Institutional Investors Weigh In On Ouster

Institutional investors have recently bought and sold shares of the stock. Parallel Advisors LLC lifted its stake in Ouster by 66.2% during the third quarter. Parallel Advisors LLC now owns 866 shares of the company’s stock valued at $35,000 after buying an additional 345 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in Ouster by 83.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 895 shares of the company’s stock valued at $36,000 after buying an additional 407 shares during the last quarter. GAMMA Investing LLC increased its stake in Ouster by 31.0% during the third quarter. GAMMA Investing LLC now owns 1,441 shares of the company’s stock valued at $58,000 after acquiring an additional 341 shares during the period. Allworth Financial LP boosted its stake in Ouster by 40.3% during the second quarter. Allworth Financial LP now owns 1,190 shares of the company’s stock worth $74,000 after buying an additional 342 shares in the last quarter. Finally, Integrated Wealth Concepts LLC bought a new position in shares of Ouster during the 2nd quarter worth approximately $74,000. Institutional investors and hedge funds own 31.45% of the company’s stock.

About Ouster

Ouster, Inc is a technology company that develops and manufactures digital lidar sensors and related software. Its lidar systems use laser light to detect and measure surrounding objects, supporting applications that require real-time perception, mapping, and automation.

The company’s products are designed for customers in the automotive, industrial automation, robotics, infrastructure, mapping, security, and smart-city markets. Ouster provides lidar sensors for uses such as autonomous and assisted driving, warehouse and industrial operations, traffic monitoring, asset inspection, and other machine-perception applications.